Hilton Cuts Ties With Franchise After DHS Booking Controversy
Skift Take
Hilton removed a Minnesota Hampton Inn from its system after videos showed the franchise refusing bookings from DHS and ICE agents. Plus, hotel deal and development news.
The DJIA rose 485 points while the Nasdaq was up 151, the S&P 500 rose 43 points and the 10-year treasury yield was up .01 to 4.18%. Lodging stocks were mostly higher. The two biggest percentage movers were CHH and VAC, both up 5% on the day.
Barclays initiated coverage on seven lodging REITs. Barclays launched coverage with Overweight ratings on Ryman Hospitality, Apple Hospitality, and Park Hotels & Resorts. Equal Weight ratings were given to DiamondRock Hospitality and Host Hotels & Resorts, while Underweight ratings were given to Pebblebrook Hotel Trust and RLJ Lodging Trust. It is clear that Barclays is not overly bullish on the segment, saying they believe Hotel REITs will continue to function mainly as a short term “trading” sector for many REIT investors, rather than a potential source of long-term excess returns. They see two of their three OW names, RHP
